FUTURE TALENT INSIGHT SERIES Attracting high achievers: are they really that different? CAREER AMBITIONS AND EXPECTATIONS OF STUDENTS AND RECENT GRADUATES FROM THE WORLD’S TOP 200 UNIVERSITIES ATTRACTING HIGH ACHIEVERS: ARE THEY REALLY THAT DIFFERENT? In the war to attract top talent, it’s helpful to delve into the minds of students and graduates of the world’s top universities. What drives their career ambitions and expectations? 2 HOME INTRODUCTION UNDERSTANDING HIGH ACHIEVERS EMPLOYER QUALITIES HIGH ACHIEVER PROFILES IMPLICATIONS FOR EMPLOYERS MORE INFORMATION METHODOLOGY ATTRACTING HIGH ACHIEVERS: ARE THEY REALLY THAT DIFFERENT? Onsite bowling alleys, free gym memberships and flexible work hours are the types of perks that help organizations stand out as employers of choice. But to what extent do they reflect what is truly important to today’s best young candidates? In this report – part of our Future Talent Insight Series – we explore the career expectations of business students and recent graduates (referred to as High Achievers) from the top 200 universities listed in the Times Higher Education World University Rankings 2015–2016. We surveyed more than 88,000 people from 10 countries: Canada, China, Germany, Hong Kong, Norway, Singapore, Sweden, Switzerland, the United Kingdom and the United States. More than 18,000 of these students study at the top 200 universities. 3 While these top-tier schools are by no means the only source of high-quality graduates, exploring what their students seek in a job can help organizations develop targeted strategies for attracting the best talent. Our analysis also explores how High Achievers differ from their peers at other universities. How do these students think differently, what drives them and what does this mean for employers? HOME INTRODUCTION UNDERSTANDING HIGH ACHIEVERS EMPLOYER QUALITIES HIGH ACHIEVER PROFILES IMPLICATIONS FOR EMPLOYERS MORE INFORMATION METHODOLOGY ATTRACTING HIGH ACHIEVERS: ARE THEY REALLY THAT DIFFERENT? 4 HOME INTRODUCTION UNDERSTANDING HIGH ACHIEVERS EMPLOYER QUALITIES HIGH ACHIEVER PROFILES IMPLICATIONS FOR EMPLOYERS MORE INFORMATION METHODOLOGY Understanding high achievers ATTRACTING HIGH ACHIEVERS: ARE THEY REALLY THAT DIFFERENT? Who are these High Achievers, and what sets them apart from students at other universities? 5 Career profile We sought to understand how students view themselves as employees, and what drives them. The top three career profiles of High Achievers are Careerist, Internationalist and Hunter. Career goals For all students, work/life balance was their top goal as they prepare to embark on their careers. Further down the list we see some variations, with High Achievers ranking as second a desire to lead or manage people, while students from other universities cite job security. It seems High Achievers are more focused on becoming leaders and feeling competitively or intellectually challenged, and less on job stability. FIGURE 1 HOME THE CAREERIST Self-motivated and ambitious individuals who want to be leaders, they look for employers that provide robust training, and opportunities for advancement and growth. THE INTERNATIONALIST Strategic, futurefocused and adaptable, these people seek a career with an international aspect. THE HUNTER Hunters are solutionfocused and natural salespeople who thrive in business development roles. INTRODUCTION UNDERSTANDING HIGH ACHIEVERS EMPLOYER QUALITIES HIGH ACHIEVER PROFILES IMPLICATIONS FOR EMPLOYERS MORE INFORMATION METHODOLOGY ATTRACTING HIGH ACHIEVERS: ARE THEY REALLY THAT DIFFERENT? FIGURE 1 WHICH OF THESE CAREER GOALS ARE MOST IMPORTANT TO YOU? High Achievers versus Other Students 6 54% To have work/life balance To be a leader or manager of people RETURN 42% 38% 40% To be secure or stable in my job To be competitively or intellectually challenged 28% HOME 57% INTRODUCTION UNDERSTANDING HIGH ACHIEVERS 47% 33% EMPLOYER QUALITIES 29% 28% To have an international career HIGH ACHIEVER PROFILES 28% 29% To be entrepreneurial or creative/innovative IMPLICATIONS FOR EMPLOYERS 26% 25% To be dedicated to a cause or to feel that I am serving a greater good 20% 21% To be autonomous or independent To be a technical or functional expert 9% 0% 11% METHODOLOGY 10% High Achievers Other students MORE INFORMATION 20% 30% 40% 50% 60% ATTRACTING HIGH ACHIEVERS: ARE THEY REALLY THAT DIFFERENT? 7 HOME INTRODUCTION UNDERSTANDING HIGH ACHIEVERS EMPLOYER QUALITIES HIGH ACHIEVER PROFILES IMPLICATIONS FOR EMPLOYERS MORE INFORMATION METHODOLOGY Employer qualities ATTRACTING HIGH ACHIEVERS: ARE THEY REALLY THAT DIFFERENT? Beyond earning a high salary, High Achievers crave creative and dynamic work that will challenge them, and look for leaders to foster their development. Attributes of an attractive employer What do High Achievers want in a workplace and a role? High future earnings is the top priority for all students. If we look closer at salary expectations, we find, perhaps unsurprisingly, that High Achievers expect to earn a higher salary upon graduating. The exception is in Norway, where students outside the top 200 had a higher expectation of salary on average. High Achievers ranked ‘supportive leaders’ as the second most important employer attribute, followed by a creative and dynamic work environment. Other students cited a similar top three. FIGURE 2 Further down the list, there are some key differences. Among High Achievers, prestige and variety are more important, while other students place greater value on working for a company with high ethical standards and a friendly and respectful environment. FIGURE 3 The issue of ethical standards is an interesting one. Between groups and across countries we see significant variation in how students feel about this employer attribute. FIGURE 4 8 Target industries High Achievers seem most drawn to industries where salaries are generally higher and work is potentially more prestigious, strategic and challenging. Their top three industries are management and strategy consulting, banks and financial services, and auditing and accounting. Agriculture, shipping, arts, entertainment and recreation were ranked among the least desirable industries for all students, suggesting organizations in these areas may need to get creative in their quest to attract talent. HOME INTRODUCTION UNDERSTANDING HIGH ACHIEVERS EMPLOYER QUALITIES HIGH ACHIEVER PROFILES IMPLICATIONS FOR EMPLOYERS MORE INFORMATION METHODOLOGY ATTRACTING HIGH ACHIEVERS: ARE THEY REALLY THAT DIFFERENT? FIGURE 2 TOP FIVE EMPLOYER ATTRIBUTES High Achievers versus Other Students RETURN HIGH ACHIEVERS 9 OTHER STUDENTS HOME 1 High future earnings High future earnings INTRODUCTION 2 Leaders who will support my development Professional training and development UNDERSTANDING HIGH ACHIEVERS 3 A creative and dynamic work environment A creative and dynamic work environment EMPLOYER QUALITIES 4 Professional training and development Leadership opportunities HIGH ACHIEVER PROFILES 5 Leadership opportunities Leaders who will support my development IMPLICATIONS FOR EMPLOYERS MORE INFORMATION METHODOLOGY ATTRACTING HIGH ACHIEVERS: ARE THEY REALLY THAT DIFFERENT? FIGURE 3 10 50% HOME BIGGEST DIFFERENCES BETWEEN HIGH ACHIEVERS AND OTHER STUDENTS High Achievers versus Other Students INTRODUCTION UNDERSTANDING HIGH ACHIEVERS 40% EMPLOYER QUALITIES RETURN 30% HIGH ACHIEVER PROFILES IMPLICATIONS FOR EMPLOYERS 20% MORE INFORMATION 10% METHODOLOGY 0% Prestige High Achievers Other students A friendly work environment Respect for its people Variety of assignments Recruiting only the best talent ATTRACTING HIGH ACHIEVERS: ARE THEY REALLY THAT DIFFERENT? FIGURE 4 ETHICAL STANDARDS IS ONE OF THE MOST ATTRACTIVE ATTRIBUTES IN AN EMPLOYER By country (High Achievers) 11 HOME Norway 43% Sweden 15% UK 20% Canada 28% INTRODUCTION Germany 12% UNDERSTANDING HIGH ACHIEVERS Switzerland 23% US 33% EMPLOYER QUALITIES China 25% RETURN Hong Kong 20% HIGH ACHIEVER PROFILES IMPLICATIONS FOR EMPLOYERS Singapore 32% MORE INFORMATION METHODOLOGY 26 32 By group HIGH ACHIEVERS % % OTHER STUDENTS ATTRACTING HIGH ACHIEVERS: ARE THEY REALLY THAT DIFFERENT? 12 HOME INTRODUCTION UNDERSTANDING HIGH ACHIEVERS EMPLOYER QUALITIES HIGH ACHIEVER PROFILES IMPLICATIONS FOR EMPLOYERS MORE INFORMATION METHODOLOGY High achiever profiles ATTRACTING HIGH ACHIEVERS: ARE THEY REALLY THAT DIFFERENT? Elsa Elsa is 22 and in her final year of a Business Administration degree at Lund University in Sweden. Ambitious and determined, Elsa has her sights set on a management career in media. As part of her final year, Elsa is completing an internship with a local digital media company. Many of Elsa’s peers (both High Achievers and other students) are engaged in part-time or summer work and extracurricular activities. However, more High Achievers, like Elsa, have undergone local internships (48 percent of High Achievers compared to 36 percent of other students). Internships offer valuable on-the-job experience and build networks, potentially giving Elsa an edge in finding employment. As a Careerist, Elsa is ready to climb the corporate ladder and put in the work required. Like many Careerists, she wants to work in an environment that recognizes and rewards hard work. She will seek an employer that fosters her development and advancement, offers work/life balance, provides regular training and promises a variety of challenges. 13 HOME INTRODUCTION UNDERSTANDING HIGH ACHIEVERS EMPLOYER QUALITIES HIGH ACHIEVER PROFILES IMPLICATIONS FOR EMPLOYERS MORE INFORMATION METHODOLOGY ATTRACTING HIGH ACHIEVERS: ARE THEY REALLY THAT DIFFERENT? Hugo Hugo, 26, has recently completed his Masters in Business Law and Economics at the UK’s University of Liverpool. He hopes to build a career as a strategic consultant for multinational companies. Hugo is an Internationalist; a natural-born leader, he is strategic and adaptable. He is looking for a job that offers variety and diversity, and opportunities to lead and inspire others. Hugo completed a semester in Germany and hopes to work in a role that sees him travelling overseas, or at least interacting with international clients and colleagues. This ambition is common to many High Achievers. More than half (52 percent) have traveled overseas, compared to 43 percent of students at other universities, while more than one-quarter (28 percent) of High Achievers have studied abroad, compared to 18 percent of other students. Hugo is conscious that in today’s global economy, international experience is seen as an advantage by many employers. 14 HOME INTRODUCTION UNDERSTANDING HIGH ACHIEVERS EMPLOYER QUALITIES HIGH ACHIEVER PROFILES IMPLICATIONS FOR EMPLOYERS MORE INFORMATION METHODOLOGY ATTRACTING HIGH ACHIEVERS: ARE THEY REALLY THAT DIFFERENT? 15 HOME INTRODUCTION UNDERSTANDING HIGH ACHIEVERS EMPLOYER QUALITIES HIGH ACHIEVER PROFILES IMPLICATIONS FOR EMPLOYERS MORE INFORMATION METHODOLOGY Implications for employers ATTRACTING HIGH ACHIEVERS: ARE THEY REALLY THAT DIFFERENT? Gaining that elusive competitive edge often comes down to the talent that walks in your doors. Find ways to offer, and communicate, what your candidates want and you’ll have far more chance of standing out. Find your balance Our research has consistently found that young professionals care deeply about work/life balance. However, this shouldn’t be confused with an unwillingness to work hard and ‘pay their dues’ – a stereotype often associated with the younger generation. In a 2015 Universum report on millennials, the top three definitions of ‘work/life balance’ from respondents were enough leisure time for my private life, flexible work hours and recognition and respect for employees. Employers set on hiring fresh talent can’t ignore this insight. How will you support employees’ desire for balance? 16 HOME INTRODUCTION UNDERSTANDING HIGH ACHIEVERS EMPLOYER QUALITIES HIGH ACHIEVER PROFILES IMPLICATIONS FOR EMPLOYERS MORE INFORMATION METHODOLOGY ATTRACTING HIGH ACHIEVERS: ARE THEY REALLY THAT DIFFERENT? Provide a roadmap A 2016 Deloitte report on the career expectations of millennials revealed that in an ideal work week, young professionals wanted significantly more time devoted to the development of their leadership skills and to coaching and mentoring. This hunger for regular training and support is reflected in our research, which reveals it is a top-five employer attribute for High Achievers. The organizations most successful in attracting these candidates will have robust training plans in place and clear roadmaps for supporting employee advancement. Build your brand Cultivating a strong employer brand is a crucial aspect of successful recruitment – and even more so 17 for organizations targeting High Achievers. As we explored above, these top students and graduates place a higher value on prestige than their peers; they want to work somewhere that is seen to be attractive by others. Among the employer attributes that High Achievers rated lowest were corporate transparency, customer focus, gender diversity and overtime pay. While these are important issues in business, it seems they’re not effective selling points in the battle to attract top candidates. The best employer brands understand the unique, distinct and credible values of their company and build this into all of their talent communications. What is your organization doing to build its employer brand and stand out from the crowd? HOME INTRODUCTION UNDERSTANDING HIGH ACHIEVERS EMPLOYER QUALITIES HIGH ACHIEVER PROFILES IMPLICATIONS FOR EMPLOYERS MORE INFORMATION METHODOLOGY ATTRACTING HIGH ACHIEVERS: ARE THEY REALLY THAT DIFFERENT? MORE INFORMATION Want more information about attracting top candidates, cultivating your employer brand, or simply taking the first steps towards better understanding your organization? The Talent Insight Series is only a small selection of questions from the larger Universum Talent Survey. We explore in depth the career expectations of talent by asking them to evaluate their chosen employers based on four drivers of employer attractiveness: employer reputation and image, people and culture, job characteristics, remuneration, and advancement opportunities. To get insights on your employer brand and understand how you compete with other employers, contact us. Learn more about Universum’s research services Find out about Universum’s consulting services Contact Universum today and let us help you build a better employer brand BECOME A MEMBER Explore a comprehensive range of solutions, from industry insight reports and data dashboards to content analysis platforms accessed via large enterprise membership packages. 18 HOME INTRODUCTION UNDERSTANDING HIGH ACHIEVERS EMPLOYER QUALITIES HIGH ACHIEVER PROFILES IMPLICATIONS FOR EMPLOYERS MORE INFORMATION METHODOLOGY ATTRACTING HIGH ACHIEVERS: ARE THEY REALLY THAT DIFFERENT? METHODOLOGY Each year, Universum gathers insights about the career expectations of more than 1,500,000 career seekers from 57 countries, and publishes dozens of reports on the top issues affecting global talent and the companies that hire them. The Talent Insight Series focuses on students nearing graduation, or who have recently finished university. This report is based on business students and recent graduates from The Times Higher Education World University Rankings 2015–2016. Global averages are a weighted average of the selected countries; weighting is by GDP. Based on an exclusive survey – distributed via university and alumni contacts, the Universum Panel and local partners – Universum ensures the quality and validity of the end result by continuously maintaining a close dialogue with leading academics in the field. Our vast experience in the field, and cooperation with leading professors from top universities, enable us to stay at the front line of the 19 development of employer branding. Our findings are also used all over the world as material for new research. They are created based on more than 25 years of experience, extensive research within HR and focus groups, and communication with both our clients and talent. Global perspective – local insight. Although Universum conducts research in 57 markets, this report covers only 10 countries. If you would like to learn more about talent within your market, please contact us. HOME INTRODUCTION UNDERSTANDING HIGH ACHIEVERS EMPLOYER QUALITIES HIGH ACHIEVER PROFILES IMPLICATIONS FOR EMPLOYERS MORE INFORMATION METHODOLOGY ATTRACTING HIGH ACHIEVERS: ARE THEY REALLY THAT DIFFERENT? METHODOLOGY COUNTRIES 20 GDP IN $ PERCENTAGE NUMBER OF TOP 200 STUDENTS NUMBER OF OTHER STUDENTS US 17,950 billion 46.22% 5747 15183 UK 2,849 billion 7.34% 3136 3654 Singapore 292.7 billion 0.75% 2214 1442 Sweden 492.6 billion 1.27% 1729 5034 Canada 1,552 billion 4.00% 1679 4642 Germany 3,358 billion 8.65% 1599 13753 Hong Kong 309.9 billion 0.80% 1067 897 Switzerland 664.6 billion 1.71% 427 5633 10,980 billion 28.27% 353 16538 389.5 billion 1.00% 104 3893 China Norway HOME INTRODUCTION UNDERSTANDING HIGH ACHIEVERS EMPLOYER QUALITIES HIGH ACHIEVER PROFILES IMPLICATIONS FOR EMPLOYERS MORE INFORMATION METHODOLOGY ATTRACTING HIGH ACHIEVERS: ARE THEY REALLY THAT DIFFERENT? 21
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